The following information relates to two capital expenditure projects. Because of capital rationing, only one project can be accepted. Project B R1 000 000 Initial cost Expected life Scrap value (not included in the figures below) Expected net cash inflows: End of year: 1 2 3 4 5 The company estimates that its cost of capital is 12%. REQUIRED Use the information provided below to calculate the following: Project A R1 000 000 5 years 5 years R20 000 0 R R 240 000 290 000 260 000 290 000 280 000 290 000 360 000 290 000 300 000 290 000 2.1 2.2 22 Payback Period of Project B (answer expressed in years, months and days). Return on investment of Project A (answer expressed to two decimal places). (4) (5) 2.3 Net Present Value of both projects. (10) 2.4 Internal Rate of Return of Project B (answer expressed to two decimal places). (6)